---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40058346.md"
description: "The greatest internal friction in investing is trying to capture every single fluctuation in the market. Why not engage in swing trading or day trading? The logic is simple: in the face of a deterministic trend, any minor price fluctuation is just noise. The risk of day trading far outweighs the potential gains; it essentially reflects a lack of conviction in the long-term thesis.I would rather be a "pure bull" or a "pure bear."Logically speaking, if you are optimistic about a company's long-term valuation recovery, then the ups and downs along the way are just inevitable scenery. Frequent trading not only lacks logical consistency but also acts like a potential "traitor," gradually eroding the strength of the "comrades."A general on a march does not stop to kill ants.If you are a bull, you should possess the composure to remain unfazed even if Mount Tai were to collapse before you. Frequent short-term trading not only depletes the bull's strength but also disrupts the rhythm of the attack. Once you have set your sights on the distant city, the gravel by the roadside isn't worth bending down for."
datetime: "2026-04-21T07:51:46.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40058346.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40058346.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40058346.md)
author: "[Fee.](https://longbridge.com/en/profiles/17077668.md)"
---

# The greatest internal friction in investing is try…